EMCORE Corporation (NASDAQ:EMKR) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other equities analysts have also issued reports on the stock. B. Riley reaffirmed a “neutral” rating and set a $10.50 target price on shares of EMCORE Corporation in a research report on Friday. Zacks Investment Research lowered shares of EMCORE Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $11.00.

EMCORE Corporation (NASDAQ:EMKR) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. EMCORE Corporation had a net margin of 6.73% and a return on equity of 9.25%. The business had revenue of $30.95 million for the quarter, compared to analyst estimates of $30.04 million. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year.

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In other EMCORE Corporation news, CFO Jikun Kim sold 20,504 shares of EMCORE Corporation stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $11.25, for a total transaction of $230,670.00. Following the sale, the chief financial officer now owns 39,036 shares in the company, valued at $439,155. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.77% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. State Street Corp increased its stake in EMCORE Corporation by 33.6% in the fourth quarter. State Street Corp now owns 378,474 shares of the semiconductor company’s stock worth $3,290,000 after buying an additional 95,153 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new stake in shares of EMCORE Corporation during the fourth quarter valued at approximately $172,000. Kempner Capital Management Inc. increased its stake in shares of EMCORE Corporation by 20.0% in the first quarter. Kempner Capital Management Inc. now owns 15,000 shares of the semiconductor company’s stock valued at $135,000 after buying an additional 2,500 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of EMCORE Corporation during the first quarter valued at approximately $166,000. Finally, Mesirow Financial Investment Management Equity Management increased its stake in shares of EMCORE Corporation by 6.4% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 43,945 shares of the semiconductor company’s stock valued at $396,000 after buying an additional 2,645 shares in the last quarter. Hedge funds and other institutional investors own 74.54% of the company’s stock.

About EMCORE Corporation

EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.

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